SBI Takes $300M Stake in Bitbank to Create Japan's Largest Crypto Exchange

SBI Holdings is making a bold move in Japan's crypto market by acquiring Bitbank for JPY 46.7 billion (approximately $300 million). The deal, which still requires regulatory approval from Japan's Fair Trade Commission, aims to combine SBI VC Trade and Bitbank into the country's largest crypto exchange platform group.

According to SBI, the combined entity will hold approximately JPY 1.1 trillion (around $7 billion) in crypto assets under custody and have around 2.92 million crypto asset accounts. The acquisition is expected to significantly boost SBI's influence in Japan's crypto market.

Bitbank has maintained a clean security record, with no hacking incidents since its founding in 2014. Its business performance has fluctuated with the market, with net sales jumping from JPY 3.86 billion in 2023 to JPY 7.95 billion in 2024 before dropping to JPY 5.82 billion in 2025.

SBI is betting that combining Bitbank's user base and trading activity with its own platform will create a larger domestic crypto group, making it the largest in terms of assets under custody and one of the top-class in terms of number of accounts.